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..~id ::~oste,.,~;ur ~1~~e•: hrrrh~ fail~ ~:,~rr,~nt thr t~t:c> t~> >,~id land, and r•.rr~ p~rt tttrrr~f, and «•tll detrnd ?he sa;ne
.~K.~~n~t thc~ l:+~~ful ciaim~ ~f all ptrsuns u•humsc~e~e~.
Pf'n\'IDED AL11A1'S, and thesr prrs~nt~ are executc~ and deln~ered upon the foUo~~ing conditions, to wit:
I'he mortgagut aK~rrs ta pa~• the murtKagrr, ur urder, the prtr.cipal sum of ~~I~
x~su ~n~r ~ ~o/ioo---------------------------------------------------•--------
l~~ilcirs ~5 ~~~jrjQ~QQ ~s e~idEnrrd by a note of e~~en date hrrrwith, with inte~est frum date at the
r.~tr of g~a ~..~~~~~_~~~~..~~~_~.._n..~~~ per centum ~ 7 per annum on the unpaid balance
until paid. The said pnnc?pal and interest shall be pa~•able at the of[ice ot ~d~•l SiT~s b LCa11
Aasociation o! Indisn Rire~ (7oua~r, P.O. B~z 1209s Yezo Bsach, 1F3.o~ida 32960
a corporation nndaz the la~rs of th~ United 3tat~s of l~iica.
~~r at such uther place as the hotder uf [he note may des~gnate ~n wr~t~ng, in monthly installments of
~ 2~/lW~~~~~~~~~~~~~~~~~~~~~~~~.~~~~~~~~ Dollar~ ~S ~~2~ coma~encing Ofl
the f~rst da~• ut J~ , 19~ , and on the tirst da~~ of each month thereaftec untiltheprincipal
dnd intere~t :~re full~• paid, except that the Einal pa~~ment of principal and ~nterest, i[ not sooner paid, shall be due
and p~~•able on the first day o[ j~C~~• 2Q01~
And sh~ll dul}. promptl~•, and fully perform, discharge, execute, e[fect, complete, and comply with and abide
ht each ~ad r~~er~ the st~puIations, agrerments, cond~tions, and cocenants uf said prcn:issory n~te and of this
m~~rtR,~Kr, then this mortgage and the cstate hereby created shall cease ai~d br ~zuii a~l~ i~~l~.
:~nd ihr murtgagor further cu~~enants as foltous:
1. 1'hat he will pdy the ~ndebtedness, as hereinbefore pru~ide~i. Pn~~ilege is reser~~ed to pa~• the debt ~n whole,
ur ?n an amount equal to one or more monthtc p~yments on the principal that are next due on the note, on the first
,9,+~ of am mc~nth prior to maturity~: 1'.,~~ i 1. ,i, howeve~, that w~ritten notice of an intention !o exercise such p~iriiege
is ~;~t•en at ieast th~rt~• ~30) day~s prior to prepa~~ment; and, provided lurther, that in the e~-ent the debt is paid in
t,,ii pnor ic m~.u:~t~ and at that time it is ~nsured under the pro~•isions o[ thc !~tat~onal Hous~ng Act, he wili pa}~ to
the r.iurt~agee an ~~d~ustcd prem~um charge o( one per centum (1°~) of the orig~nal pnncipal amount thereof, except
th,,t in no e~•ent shall the ~d~usted premium exceed the aggregate amount af premsu!*± charges which weuld ha4•e
hc•rn pa~•ahfe if the mortgage had continued to be insured u~til maturity; such pa~~ment to be applied by the mo~t-
K~gee upun its obtigation to the Serretary of Hous~ng and Urban De~~elopment on account of mortgage insurance.
2. That, in urder more fuUy to protect the secur~ty of this mortgage, the mortgago~, together with, and in add~-
; tiun to. the m~~nthl~• payments under the terms of the note secured hereby. on the ficst da~~ of each month until the
a ~.~~d n~~te ?s fuiit• p~id, will pay to the mortgagee the follow•ing sums:
~
' , An a:-..,unt sulf~.irnt to pru~~dr thr haldrr hrrrut wuh funds to pa~ th~• nezt mort~age insurancr prrr.iiurr. il thu instru-
rr.r~t e~Qthe notr srcurrd hrrrb~ ere in~urr3, .~r a n.~nthly :harKr i~n tiru uf a mcrtsa~;r insurance prrmium) ti the} arr
e t~a ::1 h~ thr Serrctary HouS~nK and Crhan Drcrl~prr.ent, as follow-s:
¢
c1 It .+n.S ~o l~,nK as sa~d nute u( r~•rn date and this instrument arr ~nsured ot ~re re?nsurrd under the prov~s~oas o( the
= X..t~:,n.+l H~~us~n~ A.-t. sn amuunt auft~c?rnt to acrumulate in the hands ot the holder one (I) month prior to tts due
_ ,i.,u• thc~ .+nnu:.l r..urt~e~e msurance pre-~.tum. in urder to prur~de such holder vrith funds to pay surhprem?um to the
;`r
~ 1a•~ rrtan „f H,:usin~; and Urban Dr~•rlupmrnt pursusnt to the Nationaf Housing Act, as amended, and oppl:cabie Rrgu-
~ 1at:.~n~ tha•rrundrr, c~t
11, 11 ani! s~, I~~nK ..s sa~d n~.tr r~~~n datr and th~s instrumrnt are he(d by the Secret~ry o[ Housing and Urbon Devrlop-
~ r.rnt. e^,~~nthic .har~;e ~~n l~ru :~f a r..ortgaKe insuranre premi~r..) w•hich shall be tn an amount rqual to ~ne-hvrifth
~'z, 1'~ •.E .,n~-helf p~•r .-rr.tum ot the a~•eraKr .~utst~nd~ng br?ance due on thr note camputed wsthout tak?ng into
y o.::•un[ drl~nyurn. ~es or prry~at•r.:ents,
z
~ ~ A.un: ryual t~ thr *t.~und rrnts, t( any. nr!ct dur, plus the ptrr.:tums that will next become due and pay~bie on poltc?es
~ t tirr a~tid ~•thrr ha[a~d insuren.r co~rnna :he r.:ur;gagrd ~zoprrty, plJS iaxrs +nd assessments next due oa the mort-
~ ti~~~•~+. ;,r,.pc rt~ tait es r~t~rr.atrd b}' Lhr cr,.;rt*agrrl lrss alI sur.:s alrrrdy paid therefor dt~~idad bp the number of months
_ t~. .-:ep.~~ brf~~rr :~nr r.;.~nth pnur [u the datr w•hrn such Ktuund rents, premiums, taxes, and assessments w:li become de-
lenyurnt. ~u.'F ~u^.~ to hr hrld G~ r..~~rt~;a~rr ~n trust t~ pa~ sa~d ~round rents, pre:r.iums, t~xes, andspecialassrssments,
an.i
~ A;: ;~~tr.•;it~ ^.enti:~n~~d in thr txc, prr.rd~n~ subsc~ti.~ns of this p~tagraph and ali pa}rr.rnts :o be r.:ade undrr thr ~ute
~ ~rc~~ra•~2 hrra•b~~ ~ha:I ~~P d~tlraS LJAeSFIC[ and the aKgregdtr amount thereot shail br petd b~' ihe rr.ort~agur each cr.onth tn a
~ .3n~;r F~e~~r:rnt t.~ hr appl~c•d b~ the cr.=rt~adre t~ thr tollow•ing items ~n the urder set (urth:
" ~li prrrr:~ur: char~rs undrr the c.,nt~act of insuren.a• w~th the Sectet~r~ o[ HoustnK and Crban De~•etopment. ~r r.:nnthly
~
_ . har~r un liru of r.,~,rt~{agr ~n:urancr premiuT.~. as the case ma~ be,
~It~ ~;r.~und trnta. texrs, dstirs.~nrntS, I~~c•. dnd ~:;hrr h~tard ~nsurrnrr prrmtur.~s;
:I11~ intrrrtit .m thr nutr secured hrrrby, and
_ ~,1~'+ J^ JftILdI~UR ciI thr prtnctpal of s~id n.,te -
~
' An~ defic~enc~• in the ac:ount of such a~regate monthly p~.~ment shall, unless made goa~ by the mortgagor
pn.~r t~~ the due date uf the next such patm.ent, const~tute an ecent of def<~uit under this mortgage. The mortgagee
:=:at c.~:iect a"late char~e" not to ~xceed tv?~o cents (Zt) for each dollar (S1) of each pay~ment mare than fifteen
s;3 +1~? d~~s ~n arrears to co~•er the extra expense ~m•olti•ed in handltng deLnquent payments.
3. That if !he t~ta? oi.the pa~~ments made by the moitgagor under !bi ot paragraph 2 precedmg shall exceed
; the~ .+rr.uunt ot pa~ments actually~ m3de by the mortgagee, for gtound rents, taxes an~ as$essments and insutance
" E~r~•~:~u^>>. .~s thr case-may-tse, such excess shall be cred~ted by the moitgagee on subsequent pa)•ments tobe
_ m.,de b~ th~~ mortga~or. If, howe~•er, the monthly payments made hy the mortgagor under (hI of paragraph 2 pre-
':ti; redinK ~halt n~t be suft~c~ent to pay ground rents, taxes and assessm.~nts and ~nsurance premwms, as the case
~-•ay be. ~hen the same :hatl become due and payable, then the moctg;:gor shall pay to the mortgagee any amount
nrcrssa~~ tu maRr up the dcf~c~ency , un or before the date u•hen payment ot such ground rents, taxes, assessments,
_ :nsurance pre^ iun;~ ,h~~i be d~se. IE at any~ t~me the mortgagur shalltendec :o the murtgagee in accordance u•ith
thc• pru~ js:~,ns uf thr nute sec~red herrb~ . full pa~ment of the entirr tndebtedness represented thereb~~. the murt- y
_ K~+~;e•e shal?. ?n compuhng the amuunt of such indebtednrss, cred~t to lhe aceount of the mortgagor all payments
r.:ad~~ under the pru~~ts~ons of ~~~1 of para~raph 2 hereof w•hich the mvrtgagee has not become obligated to pa~~to ~
= t~je Secretan uf Hvu:inK and Urban Drvelopment and any balance crma~ning in the funds accumulated undec the
- nr;~~:~t.~ns ~,f of said p~+rugraph If there shall be a default under any ot the pro~~is~is of th~s mottgage, re-
- ~u;t;r.R tn pub;ir sair ~t she premisrs co~~ered ~ereby, ot the mortgagee acqu~res the property otheru~~se after
~ ~!~•f.,u!t. th~~ mortgagee shall appl), at the ttme of the commencement of such proceedings ~3t at thr timr the prop-
- rrt~ i~ rth<~rw•ise acquued.thr balance then rema~ning in the funds accumulated under fi,; of paragraph 2 preceding
- ~s a crc~Crt ~gainst the dm~unt uf princ~~l then rema~n~ng unpaid under•se~d note and shall properlyadjust any
p.+trze~ts ~~h~ch sh.,ll ha~e been rnade under i~ r of sa~d paragcaph.
-i T'h.~t he will p.ic a!1 taxes, assessments, w•ater rates, and other gu~~emmental or municipal charges, ftnes,
_ ur i:r.pu~~tt:~ns. fur wh~ch pr~n ~s~cx~ has not been made hereinbelore, and in ~efault thereof the mortgagee ma~~ pay
the ..~me. ~~n~~ t'~.,t he u•~!; ~curt:pti~ delner the off~cial rece~pts therefor to the mortgagee.
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